The South Korean President addressed the navies of 47 other countries, sending them a message of encouragement.
He was speaking onboard the the President's official naval ship, the Ilchulbong, a landing vessel named after a famous landmark on Jeju Island.
"Navies all around the world have cultivated the wisdom of coexistence and cooperation. Together we have faced new challenges. We have brought peace through our joint efforts."
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The International Fleet Review was held at the Jeju Civilian-Military Complex Port or Jeju Naval Base, situated near Gangjeong village on Jeju's southern coast.
As stated in the event's slogan, "Jeju, Where Peace Starts," President Moon reiterated that Seoul and Pyeongyang have declared an end to military confrontation and have begun their journey to peace, and that such peace can only be maintained through a strong military.
"I will make the Republic of Korea Navy more powerful so that it can contribute to peace not only on the Korean Peninsula, but in Northeast Asia and the world."
In fact, President Moon was looking to make peace more locally as well.
"I am deeply sorry for the pain that Jeju residents have suffered because of the construction of the naval base here on Jeju Island. I will also do my best to heal the pain and hurt of the residents of Gangjeong Village."
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Many were arrested in protests during the base's construction, some arguing that the base would have a negative impact on the environment,.. and others insisting the project was pushed ahead by the U.S. to deter China, rather than by South Korea to enhance its own defense.
During Thursday's press briefing, the Blue House spokesperson emphasized that President Moon has always wanted to address the pain and conflict of the Jeju residents, which is why he decided to go to Jeju for the event in person.
Soon after the fleet review, President Moon held a separate meeting with the village residents to offer them some words of consolation.
Hwang Hojun, Arirang News.